US adds 200,000-plus jobs

Saturday

Jun 7, 2014 at 12:01 AM

WASHINGTON (AP) — For the first time since 1999, American employers have added more than 200,000 jobs a month for four straight months, offering more evidence that the U.S. economy is steadily growing while much of Europe and Asia struggle.

WASHINGTON (AP) — For the first time since 1999, American employers have added more than 200,000 jobs a month for four straight months, offering more evidence that the U.S. economy is steadily growing while much of Europe and Asia struggle.

Last month's gain of 217,000 jobs means the economy has finally recovered all the jobs lost to the Great Recession. And it coincides with indications that American consumers have grown more confident. Auto sales have surged. Manufacturers and service companies are expanding.

Still, Friday's report from the Labor Department showed that pay remains subpar for many workers, millions who want full-time work are still stuck in part-time jobs, and the number of people out of work for more than six months remains historically high.

Though the economy has regained the nearly 9 million jobs lost to the recession, more hiring is needed, because the working-age U.S. population has grown nearly 7 percent since the recession began. Economists at the liberal Economic Policy Institute estimate that 7 million more jobs would have been needed to keep up with population growth.

In addition, average wages have grown only about 2 percent a year since the recession ended, well below the long-run average annual growth of about 3.5 percent.

And unemployment has fallen from a 10 percent peak in 2009 partly for an unfortunate reason: Fewer people are working or seeking work. The percentage of adults who either have a job or are looking for one remained at a 35-year low in May.